Section 6 in The Personal Injuries (Compensation Insurance) Scheme, 1972
6. Amount of premium .-(1) The total premium due on a policy of insurance shall be determined by the Central Government by a notification in the Official Gazette within nine months after the termination of the period of emergency.
(2)The premium shall be expressed as a percentage of the wages bill of the employer or as the equivalent of all advance payments of premium already made by him.(3)(a)"This premium", less such advance premiums as may have been recovered, will be payable by employers in such instalments as may be fixed by the Central Government.(b)Each such instalment shall be paid into a Government Treasury under the head of account through a challan and the challan evidencing such payment shall be forwarded to the Government Agent, within 30 days of the date fixed for payment by a notification in the Official Gazette.(4)If the advance premium already recovered exceeds the total premium, then the excess shall be refunded by the Central Government to the employer.
